12 Things Rich People Never Buy

Love them or hate them, rich people tend to be in the public eye. We all want to be rich, but how do we do that? While there is a lot of talk about making money, keeping it remains the real issue.

Want to know how the rich keep their money? For one thing, they avoid purchasing these 12 things. Take a look at these items that rich people never buy. You may learn a thing or two about cutting back and spending self-control. 

Lottery Tickets

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Rich people rarely spend their money on risky things like lottery tickets. They know that the chance of winning any significant amount of money is extremely low. One lottery ticket may seem like a small expense but those little things add up quickly and could put you into debt.

Pricey Credit Cards

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Speaking of debt, rich people avoid it as well. This is particularly true when it comes to credit card debt with high fees. You will never see a millionaire or billionaire paying high-interest credit card fees. Instead, they pay off debts in full and never buy more than they can afford. 

Programs With Late Fees

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Photo credit: Canva Pro

Rich people do not sign up for programs or accounts that encourage them to pay late fees unless they have to. They are very good at tracking when bills are due to avoid paying any extra due to carelessness. Paying on time is important for anyone of any wealth, so don’t waste your money!

Splurge Groceries

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Unless they’re worth hundreds of millions of dollars, you’re not going to find wealthy people eating caviar and steak every day. The wealthiest people know how to stick to a budget, especially when it comes to everyday things like groceries. Rich people only get what they need and never spend on unnecessary items. 

Extended Warranties

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There are few rip-offs that are as blatant as an extended warranty service. The rich know this. Wealthy people do a little research and buy the best product rather than buy extended warranties on TVs, computers, and appliances. When you buy quality items, you shouldn’t need that extra warranty. 

High-End Brands

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Photo Credit: Canva Pro

Many rich people only wear designer clothes on the runway. They are more likely to shop at regular clothing stores like the middle class in everyday life. Luxury clothes in day-to-day life is a big no-no. In other words, those ads in those fashion magazines? They’re targeted to the upper middle class, not the wealthy.

Supporting the Family

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When you’re hyper-wealthy, your extended family will likely try to get their fingers in your financial honeypot. The ultra-rich don’t often give money away to their friends and family. Sure, they will donate to charity, but do not set up extravagant inheritances or absurd trusts. It’s just not something the rich do. 

Junk

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Rich people do not buy junky stuff, nor do they buy things that they don’t need. They invest in higher quality things that will last longer rather than break immediately. This goes for cars, home appliances, and day-to-day things like toys for their kids or pets. 

The Latest Gadgets

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Everyone likes high-tech gadgets, but the wealthiest people know how to avoid the newest tech trends until they are perfected. They don’t waste money on the latest stuff but wait for the second or third model that is better and more reliable.  

Seasonal Fashion

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Did you ever notice that trendy clothes tend to be a “poor thing?” Wealthy people buy clothes that are not overly trendy and will still look good in a year or two. They don’t spend crazy amounts of money updating their closets every season. It would be wasteful!

Pricey Gym Memberships

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The rich don’t pay high gym membership fees each month unless it’s a way to network with other people in their industry. Instead, they invest in their own home gyms, which is a better long-term use of money. The richer you are, the more likely it is that you’ll have a private trainer who comes to your home instead of a gym membership.

Quick Investment Schemes

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Wealthy people take their time when it comes to investments. They research and understand that impulsive decisions can cost a lot of money. You won’t find the ultra-wealthy jumping into investments that promise quick returns.

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